Industrial Gases Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030

Published Date : Mar 2021 | No. of Pages : 250 Pages | Category : Chemical and Material

The global Industrial Gases market size is expected to be worth around US$ 247.1 billion by 2030, according to a new report by Vision Research Reports.

The global Industrial Gases market size was valued at US$ 92.0 billion in 2020 and is anticipated to grow at a CAGR of 6.06% during forecast period 2021 to 2030.

Growth Factors

The use of industrial gas in the electronics (photovoltaic) industry for the manufacturing of semiconductors, solar, displays, LED solid-state lighting, wafers, and polysilicon compel the growth prospects for this market. Clean energy, predominantly solar PV, is evolving as an eminent source of clean energy generation, thereby attracting investments globally. These gases substantially reduce the manufacturing costs, which is poised to increase their implementation over the forecast period.

Major end-use industry segments such as medical and pharmaceuticals, food and beverages, petroleum refining, petrochemicals, and aerospace prefer acquiring these gases directly from the manufacturing/distribution companies. Companies operating in these end-use segments usually require large quantities of gases, and therefore opt for bulk or onsite form of distribution.

The healthcare industry consumes substantial amounts of industrial gases in analytical and imaging equipment, diagnostics, home and institutional respiratory therapies, instrument and equipment sterilization, dental and general surgical anesthesia, imaging contrasts, and many other applications. Continuing research in new applications improves the growth in demand for industrial gas by the healthcare sector.

Industrial gases are used for a wide range of applications in the food and beverage industry. In the food industry, industrial gases are employed for numerous applications, including modified atmospheric packaging (MAP), chilling and freezing, and controlling the temperature of products during transportation and storage. It is majorly used to maintain the quality and increase the shelf life of food products.

Report Highlights

Oxygen held the largest revenue share of 28.1% in 2020. It is known to improve the thermal efficiency of fuel. Oxygen is used to treat polluted water and hazardous wastes and for the gasification process of coal. The gas can also replace in the pulp and paper industry in order to reduce pollution. Oxygen also finds large applications in the medical industry. Thus, the large-scale application of oxygen in various industries is expected to propel the demand for industrial oxygen in the coming years.

Nitrogen gas held the second-largest revenue share in 2020 and is projected to expand at the highest growth rate from 2021 to 2028. Nitrogen gas is used on a large scale in the healthcare sector due to the growing medical and pharmaceutical industry in Asia Pacific and North America. This is expected to propel the growth of the segment in the coming years.

Carbon dioxide is expected to witness significant growth in the forecast period owing to an increase in the usage of carbon dioxide for gas-based enhanced oil recovery in the countries, such as the U.S., Canada, Mexico, Brazil, and the Middle East oil-producing nations. Further, fluctuation in crude oil prices and an increase in the number of matured wells around the world will result in a significant increase in the usage of enhanced oil recovery to increase the efficiency of oil production from the oil wells.

The cylinder (merchant) segment held the largest revenue share of 36.9% in 2020. The segment includes the gases being distributed in the form of packaged cylinders (high-pressure gas or low-pressure liquid). This form of distribution is however only conducive for customers with a small requirement of industrial gasses. For cylinder distribution, gases such as nitrogen, oxygen, argon, helium, and hydrogen can be conveniently compressed into a cylinder at pressures of up to 300 bars. Many gases are also supplied at room temperature in the liquid state.

The on-site segment is expected to witness the fastest growth over the forecast period. The on-site segment includes the filing station being set up either at the company plant or on another site. This mode of distribution is used for supplying large quantities of gases at varying pressures and states. On-site generation abolishes several problems linked to the conveyance and distribution of hydrogen, and therefore the market is expected to grow substantially. On-site hydrogen generation in small-scale industries has gained more popularity owing to new technologies being offered at affordable costs in comparison to delivered distributed channels.

The manufacturing application segment accounted for the largest revenue share of 26.2% in 2020 and is projected to witness significant growth during the forecast period. The demand for industrial gases, such as nitrogen, oxygen, carbon dioxide, and hydrogen, in the manufacturing industry, is projected to witness substantial growth in the developing economies owing to the growing manufacturing industry in India, China, Brazil, and South Korea. The growing demand for advanced industrial gases in the electronic industry is expected to further propel the growth of this segment.

The healthcare application segment is expected to witness the fastest growth over the forecast period. In addition, the ongoing COVID-19 pandemic has further driven the demand for medical-grade industrial gases, especially oxygen. An increase in global healthcare spending is creating a strong growth potential for this market.

Industrial gases are used for a wide range of applications in the food and beverage industry. In the food industry, industrial gases are employed for numerous applications, including modified atmospheric packaging (MAP), chilling and freezing, and controlling the temperature of products during transportation and storage. It is majorly used to maintain the quality and increase the shelf life of food products. In addition, it is used as an indicator in the detection of food quality during processing and storage. Carbon dioxide is used in the beverage industry in the production of carbonated beverages. Food-grade liquid carbon dioxide is a key ingredient in carbonated drinks, which helps prevent mold growth and inhibits the growth of bacteria depending upon the concentration of carbonation.

Asia Pacific accounted for the largest revenue share of 36.1% in 2020 and is projected to expand at the highest CAGR during the forecast period. The increasing demand for industrial gases in the Asia Pacific can be attributed to the growth and expansion of the end-use industries in China, India, South Korea, and Japan. These countries are the key markets for industrial gases both globally and in Asia Pacific.

China emerged as the largest country-level market in 2020. Asia Pacific observed the maximum demand for industrial gases owing to the upsurge in demand in the aerospace industry for high-quality gas solutions. Additionally, significant growth of the food and beverage and pharmaceutical industries in the emergent economies, such as India and China, is expected to generate abundant opportunities for market growth during the forecast period.

Key Players

  • Air Liquide

  • Air Products & Chemicals

  • Messer Group

  • Taiyo Nippon Sanso

  • The Linde Group

Market Segmentation

  • Product Outlook 

    • Oxygen

    • Nitrogen

    • Hydrogen

    • Carbon dioxide

    • Acetylene

    • Argon

    • Others

  • Application Outlook 

    • Healthcare

    • Manufacturing

    • Metallurgy & Glass

    • Food & Beverages

    • Retail

    • Chemicals & Energy

    • Others

  • Distribution Outlook 

    • On-site

    • Bulk (Liquid Gas Transport)

    • Cylinder (Merchant)

  • Regional Outlook 

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • U.K.

      • Germany

      • France

      • Italy

    • Asia Pacific

      • China

      • India

      • Japan

      • South Korea

    • Central & South America (CSA)

      • Brazil

    • Middle East & Africa

      • Saudi Arabia

      • UAE

The Industrial Gases market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Industrial Gases market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Industrial Gases market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Industrial Gases market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Industrial Gases market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Industrial Gases capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Industrial Gases by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Industrial Gases market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Industrial Gases market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Industrial Gases market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Industrial Gases industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Industrial Gases market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Industrial Gases market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Industrial Gases market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Industrial Gases market. These factors have benefited the growth of the global market for Industrial Gases. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Industrial Gases. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Industrial Gases are as follows:

  • Historic Year: 2017-2020
  • Base Year: 2021
  • Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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